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Hendrix Genetics begins blockchain proof of concept project

Hendrix Genetics has begun testing a system for international payments and deliveries in the egg value chain


May 2, 2017
By Press release

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May 2, 2017, Kitchner, Ont. – With several partners, Hendrix Genetics is investigating possibilities to use blockchain in the egg value-chain. Blockchain is a new technology that has the potential to make processes more democratic, secure, transparent, and efficient.

What is blockchain? Blockchain is in essence a public decentralized ‘ledger’. All transactions are stored in a shared database and everything is verifiable and traceable. Nobody owns the database, all participants share it. Blockchains are secure by design.

With participation of several companies, Hendrix has defined its first blockchain project. They will build and test a system for international payments and deliveries in the egg value chain with the objective to replace the current Letter of Credit system. Hendrix is working on a proof of concept to investigate and learn the possibilities and limitations of blockchain technology for the animal protein value chains in which they are involved in.

For more information, visit https://www.hendrix-genetics.com/news/hendrix-genetics-innovates-blockchain/?platform=hootsuite